Heartland Financial USA (NASDAQ:HTLF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage presently has a $61.00 target price on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.96% from the company’s previous close.
According to Zacks, “Heartland Financial USA, Inc. is a multi-bank holding company operating through bank subsidiaries in the states of Iowa, Wisconsin, Illinois and New Mexico and a federal savings bank subsidiary in Iowa. The Bank Subsidiaries provide full-service retail banking. Deposit products include checking and other demand deposit accounts, savings accounts, money market accounts, individual retirement accounts and other time deposits. Loans include commercial and industrial, agricultural, real estate mortgage, consumer, home equity, credit cards and lines of credit. “
HTLF has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 target price on shares of Heartland Financial USA in a research report on Tuesday, October 3rd. B. Riley reaffirmed a “hold” rating and issued a $50.00 target price on shares of Heartland Financial USA in a research report on Wednesday, December 13th. BidaskClub downgraded Heartland Financial USA from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. FBR & Co set a $50.00 price target on Heartland Financial USA and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $57.00 price target on shares of Heartland Financial USA in a research report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $53.80.
Heartland Financial USA (NASDAQ:HTLF) last released its earnings results on Monday, October 30th. The bank reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $109.12 million for the quarter, compared to the consensus estimate of $115.81 million. Heartland Financial USA had a return on equity of 9.77% and a net margin of 18.14%. Heartland Financial USA’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. research analysts anticipate that Heartland Financial USA will post 3.02 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Heartland Financial USA by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,062,166 shares of the bank’s stock worth $52,471,000 after buying an additional 55,543 shares during the last quarter. Vanguard Group Inc. increased its position in Heartland Financial USA by 5.2% during the second quarter. Vanguard Group Inc. now owns 1,026,054 shares of the bank’s stock worth $48,327,000 after buying an additional 50,528 shares during the last quarter. Northern Trust Corp increased its position in Heartland Financial USA by 1.9% during the second quarter. Northern Trust Corp now owns 942,750 shares of the bank’s stock worth $44,403,000 after buying an additional 17,570 shares during the last quarter. State Street Corp boosted its holdings in shares of Heartland Financial USA by 48.1% during the second quarter. State Street Corp now owns 626,086 shares of the bank’s stock worth $29,489,000 after acquiring an additional 203,277 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Heartland Financial USA by 3.9% during the third quarter. Allianz Asset Management GmbH now owns 558,970 shares of the bank’s stock worth $27,613,000 after acquiring an additional 21,070 shares during the period. 47.88% of the stock is currently owned by hedge funds and other institutional investors.
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Heartland Financial USA Company Profile
Heartland Financial USA, Inc (Heartland) is a diversified financial services company engaged in providing banking, mortgage, private client, investment, treasury management, card services, insurance, and consumer finance services to individuals and businesses. Its segments include community and other banking, and retail mortgage banking.
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